Cancelling a finance deal

[Andrew Robertson]

Hi All,

I’m in a bit of an odd situation and I’m looking for some guidance.

I Bought a new Audi A4 on a 3-year lease from VW Finance 1 year ago. However, my wife and I have recently been recruited to work in Australia and the money is too good to turn down. So the question is.

Can I sell the car back to VW Finance and then refinance the negative equity with them so that I don’t default or is there another option available?

Thanks,

Andrew

[Stuart Masson]

Hi Andrew. It’s not an odd situation; things like this happen all the time.

If it’s a lease agreement, you will have to pay whatever penalties are in the contract for terminating early. There’s generally no other option available.

[Author]

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